Independent forex education — no broker owns this site
Understand forex before you risk a dollar.
Forex centres at work right now
Business hours in Sydney, Tokyo, London and New York, 8:00–17:00 local time
- Sydney Australia/Sydney8:00–17:00 Sydney time, Mon–Fri
- Tokyo Asia/Tokyo8:00–17:00 Tokyo time, Mon–Fri
- London Europe/London8:00–17:00 London time, Mon–Fri
- New York America/New_York8:00–17:00 New York time, Mon–Fri
Business hours here mean 8:00–17:00 local time, Monday to Friday, in each city: a plain convention, not an official session time — forex has no opening bell. The market week follows the CME Globex FX futures schedule, Sunday 5:00 p.m. to Friday 4:00 p.m. US Central Time. Your broker's own hours may differ. Rules and sources: Forex market hours tool · CME Group · map data Natural Earth (public domain) via world-atlas.
A free, structured course for complete beginners. Every lesson explains the mechanics with real numbers and a working calculator — and tells you the honest part first: most retail traders lose money.
No account neededNo broker sign-upNo profit promises
Updated 4 Sep 2026Every figure is sourced and datedEducational content only — not financial advice
Start with the basics
A structured path for complete beginners.
Short, sequential lessons. No prior knowledge assumed. Start at the top and work down — or jump to what you need.
Start here
What forex is, the honest odds, and the exact order to learn in so you do not lose money finding out.
Read the guideCourse 1 · 15 lessons
Forex Foundations
What forex is, currency pairs, pips, lots, spread, leverage, margin — the vocabulary and mechanics, with worked examples.
- What Is ForexLESSON 1 · What is forex? A plain-English guide to the currency market
- How Does Forex Trading WorkLESSON 2 · How does forex trading work? Follow one EUR/USD trade from quote to profit…
- Currency Pairs ExplainedLESSON 3 · Currency pairs explained in plain English
- How To Read A Forex QuoteLesson · coming soon
- What Is A Pip In ForexLESSON 5 · What is a pip in forex? Count pips on any pair, dodge the pipette trap…
- What Is A Lot In ForexLesson · coming soon
- What Is Spread In ForexLesson · coming soon
- What Is Leverage In ForexLesson · coming soon
- What Is Margin In ForexLesson · coming soon
- Long Vs Short ForexLesson · coming soon
- Forex Trading SessionsLesson · coming soon
- Forex Order TypesLesson · coming soon
- What Is A Demo Account ForexLesson · coming soon
- Mt4 Vs Mt5Lesson · coming soon
- What Is A Forex BrokerLesson · coming soon
Course 2 · 12 lessons
Risk Management First
Position sizing, stop-losses, risk-reward, drawdown and why most traders lose. The most important course on the site. Taught before charts — on purpose.
- Why Do Most Forex Traders Lose MoneyLESSON 1 · Regulators say 68–89% of retail forex accounts lose
- Position Sizing ForexPOSITION SIZING · How to calculate forex position size
- Risk Per Trade ForexRISK MANAGEMENT FIRST · How much of your account to risk per forex trade, with the losing-streak…
- How To Set A Stop LossSTOP LOSS · How to set a stop loss in forex
- Risk Reward RatioLESSON 5 · Risk-reward ratio sets the win rate you need to break even — 1:2 needs…
- What Is Drawdown In TradingDRAWDOWN · Drawdown is the fall from your account peak to a low
- Risk Of RuinLesson · coming soon
- Leverage Risk ForexLEVERAGE RISK · Leverage risk in forex is misread
- Win Rate Vs Risk RewardLesson · coming soon
- OvertradingLesson · coming soon
- Forex Trading Plan For BeginnersLesson · coming soon
- Correlation Risk ForexLesson · coming soon
Reading Charts
Technical analysis for beginners — deliberately placed after risk management.
Start Course 3Pre-trade checklist & templates
Nine questions to answer before every order, plus the templates that keep position size honest.
Open the checklistPlain-English glossary
Every term defined in one or two sentences, with a link to the lesson that explains it in depth.
Browse A–ZIs forex a scam? Can you make money?
The questions beginners actually ask, answered with data — and zero sales pitch.
Read the answersWhy this site is different
Built to teach, not to sell.
Most forex sites are owned by a broker or exist to funnel you into one. FirstPip is independent education — three principles hold every page to account.
Every concept is interactive
Each lesson pairs a plain-English explanation with a working calculator and a real, step-by-step numeric example — you learn by touching the numbers, not just reading them.
How not to lose money, first
Before "how to make money," we teach position sizing, stop-losses and risk of ruin. It's the honest order, and it's what actually keeps beginners in the game.
Sources, methodology, disclosure
Every figure is sourced and dated. Broker research uses a public methodology, and any affiliate relationship is disclosed up front. We never promise profits.
Free tools
Calculators you'll actually use.
Instant, no sign-up. Each result comes with a one-line explanation of what it means for your account.
What this means: with 0.50 lots, a 20-pip stop costs exactly $100 — 1.0% of a $10,000 account. Ten losses in a row would leave 90.4% of the account.
Free 7-day email course
Learn the foundations in 7 short emails.
One lesson a day, written for someone who has never placed a trade. Plain English, real numbers, no hype — and the honest part first.
- Free forever
- No broker sign-up
- Unsubscribe anytime
We store your address to send this course and occasional lesson updates. We never sell it, and we never send trading signals or profit claims.
Straight answers
The questions beginners actually ask.
Answered honestly, with sources — including the answers that cost us conversions.
Is forex trading a scam?
The market itself is not a scam — it is the largest financial market in the world, with about $9.6 trillion traded per day (BIS Triennial Survey, September 2025). Scams exist around it: signal sellers, "fund managers" who take deposits, and unregulated brokers.
The honest risk is not fraud, it is loss. The EU securities regulator found that 74–89% of retail CFD accounts typically lose money (ESMA, March 2018). Anyone promising you a win rate is selling something.
How much money do I need to start?
Three different numbers get confused here: the broker's minimum deposit (often $10–$100), the amount needed for real risk control (big enough that risking 1% per trade is still a workable position), and the amount at which any profit is worth your time.
The number that matters most for a beginner is different again: how much you can lose entirely without it changing your life. Early trades are tuition, not income.
Do I need an account to use this site?
No. Every lesson, glossary entry and calculator is free with no sign-up. You only give an email if you want the 7-day course delivered to you.
Does a broker own or pay for this site?
No broker owns FirstPip. Education is kept independent of monetisation: broker research follows a published methodology, commission never affects a score, and any affiliate relationship is disclosed at the top of the page it appears on.
Demo account or live account first?
Demo first — always. A demo teaches order mechanics and position sizing at zero financial risk. Move to live money only once you can follow a written plan with a fixed risk per trade, and start with money you can afford to lose.
Start with the free basics course.
No account, no broker sign-up, no promises. Just the mechanics — explained honestly, with the numbers that matter.
Get lesson 1 by email